English prospectus
Not for release, publication or distribution in the United States, Canada,
Australia or Japan
This announcement does not constitute an offer to sell or the solicitation of an
offer to buy the securities of Bavarian Nordic A/S (the "Securities") in the
United States or in any other jurisdiction. The Securities may not be offered or
sold in the United States absent registration or an exemption from registration
under the U.S. Securities Act of 1933, as amended. The issuer of the Securities
has not registered, and does not intend to register, any portion of the Offering
in the United States or in any jurisdiction outside Denmark and the United
Kingdom, and does not intend to conduct a public offering of the Securities in
the United States or in any other jurisdiction outside Denmark and the United
Kingdom. Copies of this announcement are not being made and may not be
distributed or sent into the United States, Canada, Australia or Japan.
This announcement is only being distributed to, and is only directed at, persons
in the United Kingdom that are qualified investors, as that term is defined in
the Prospectus Directive, that are also (i) "investment professionals" falling
within Article 19(5) of the Financial Service and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order") or (ii) "high net worth entities" and other
persons to whom it may lawfully be communicated, falling within the meaning of
Article 49(2)(a) to (d) of the Order (all such persons being "relevant
persons"). The securities of Bavarian Nordic A/S (the "Securities") are only
available to relevant persons and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such Securities will be engaged in only
with relevant persons. Any person who is not a relevant person should not act or
rely on this announcement or any of its content.
[HUG#1512758]
